ANNUAL CERTIFICATEHOLDERS' STATEMENT
                  ---------------------------------------------

                             PROVIDIAN MASTER TRUST
                                  SERIES 1993-2
                  ---------------------------------------------

     Pursuant to the Pooling and  Servicing  Agreement  dated as of June 1, 1993
(as amended and supplemented,  the  "Agreement"),  as supplemented by the Series
1993-2  Supplement  dated as of June 1, 1993 (as amended and  supplemented,  the
"Series Supplement"),  among Providian National Bank ("PNB"),  formerly known as
First Deposit  National  Bank,  Seller and Servicer,  and Bankers Trust Company,
Trustee,  Providian  National  Bank as Servicer  is required to prepare  certain
information   each   year   regarding   current    distributions   to   Investor
Certificateholders  and the  performance  of the  Providian  Master  Trust  (the
"Trust")  during the  previous  year.  The  information  which is required to be
prepared  for the  Series  1993-2  Certificates  with  respect to the year ended
December 31, 1997, and with respect to the  performance of the Trust during 1997
is set forth below.  Certain of the  information is presented on the basis of an
original principal amount of $1,000 per Investor  Certificate (a "Certificate").
Certain other  information is presented  based on the aggregate  amounts for the
Trust  as a  whole.  Capitalized  terms  used in  this  Certificate  have  their
respective  meanings  set  forth  in the  Agreement  or  Series  Supplement,  as
applicable.

A)   Information   Regarding  the  1997   Distribution  for  the  Series  1993-2
     Certificates (stated on the basis of $1,000 original certificate  principal
     amount)

     (1)  The total amount distributed to Series 1993-2  Certificateholders  per
          $1,000 original certificate principal amount................$57.500000

     (2)  The  amount  set forth in A (1)  above  distributed  to Series  1993-2
          Certificateholders  with  respect  to  interest  per  $1,000  original
          certificate principal amount................................$57.500000

     (3)  The  amount  set forth in A (1)  above  distributed  to Series  1993-2
          Certificateholders  with  respect to  principal  per  $1,000  original
          certificate principal amount.................................$0.000000

B)   Information Regarding the Performance of the Trust

     (1)  Allocation   of   Receivables   Collections   to  the  Series   1993-2
          Certificates

          (a)  The  aggregate  amount of Finance  Charge  Receivables  collected
               during 1997.....................................$1,182,331,275.78

          (b)  The aggregate  amount of Principal  Receivables  collected during
               1997............................................$4,858,934,259.32

          (c)  The weighted average Floating Allocation  Percentage with respect
               to the Series 1993-2 Certificates for 1997..............7.254433%

          (d)  The weighted average Principal Allocation Percentage with respect
               to the Series 1993-2  Certificates for 1997.............9.093138%

          (e)  The Finance  Charge  Receivables,  collected and allocated to the
               Series 1993-2 Certificates for 1997................$85,771,435.71

          (f)  The Principal  Receivables  collected and allocated to the Series
               1993-2 Certificates for 1997......................$441,829,593.31

     (2)  Available Finance Charge Collections for Series 1993-2 for 1997

          (a)  The Finance  Charge  Receivables  collected  and allocated to the
               Series 1993-2 Certificates.........................$85,771,435.71

          (b)  Collection   Account  and  Special  Funding  Account   investment
               earnings       allocated      to      the      Series      1993-2
               Certificates........................................$1,074,954.62

          (c)  Additional  Finance  Charges from other  Series  allocated to the
               Series 1993-2 Certificates..................................$0.00

          (d)  Principal Funding Account Investment Proceeds.......$7,151,285.45

          (e)  Reserve Account withdrawals.................................$0.00

          (f)  Available Finance Charge  Collections for Series 1993-2 (total of
               (a), (b), (c), (d) and (e) above)..................$93,997,675.78

     (3)  Available Principal Collections for Series 1993-2 for 1997

          (a)  The Principal  Receivables  collected and allocated to the Series
               1993-2 Certificates...............................$441,829,593.31

          (b)  Shared  Principal  Collections from other Series allocated to the
               Series 1993-2 Certificates..................................$0.00

          (c)  Additional   amounts  to  be  treated  as   Available   Principal
               Collections pursuant to the Series Supplement......$32,563,818.56

          (d)  Available Principal  Collections for Series 1993-2 (total of (a),
               (b) and (c) above)................................$474,393,411.87

     (4)  Delinquent Balances in the Trust

          The  aggregate   outstanding   balance  of  the  Accounts  which  were
          delinquent as of the close of business on the last day of 1997

          (a)     31-60 days                            $90,462,505
          (b)     61-90 days                             58,423,393
          (c)     91 or more days                       106,751,927
                                                        ------------
          (d)     Total Delinquencies                  $255,637,825

     (5)  Defaulted Amount

          (a)  The aggregate amount of Defaulted Receivables with respect to the
               Trust for 1997....................................$496,663,565.73

          (b)  The  aggregate  amount of  Recoveries  of  Defaulted  Receivables
               processed during 1997..............................$49,915,967.82

          (c)  The  Defaulted  Amount  for  1997  [Defaulted  Receivables  minus
               Recoveries].......................................$446,747,597.91

          (d)  The  Defaulted  Amount for 1997  allocable  to the Series  1993-2
               Certificates (the "Investor Default Amount").......$32,563,818.56

     (6)  Investor Charge-Offs

          (a)  The amount withdrawn, if any, under the Series Enhancement during
               1997........................................................$0.00

          (b)  The excess of the Investor Default Amount over the sum of (i) the
               Available  Finance  Charge  Collections  applied to such Investor
               Default  Amount  and (ii) the amount of the  withdrawal,  if any,
               under the Series  Enhancement  applied to such  Investor  Default
               Amount (an "Investor Charge-Off") for 1997..................$0.00

          (c)  The  amount  of the  Investor  Charge-Off  set forth in item 6(b)
               above,  per $1,000 original  certificate  principal amount (which
               will have the effect of  reducing,  pro rata,  the amount of each
               Series 1993-2 Certificateholder's investment) for 1997..$0.000000

          (d)  The  total  amount   reimbursed   to  the  Trust  for  such  last
               Distribution Date of 1997 in respect of Investor  Charge-Offs for
               prior Distribution Dates....................................$0.00

          (e)  The  amount  set forth in item 6(d)  above  per  $1,000  original
               certificate  principal  amount  (which  will  have the  effect of
               increasing,   pro  rata,   the  amount  of  each  Series   1993-2
               Certificateholder's investment) for 1997................$0.000000

          (f)  The amount, if any, by which the outstanding principal balance of
               the Series 1993-2 Certificates exceeds the Series 1993-2 Invested
               Amount as of the last  Distribution  Date of 1997,  after  giving
               effect to all deposits,  withdrawals  and  distributions  on such
               Distribution Date...........................................$0.00

     (7)  Investor Monthly Servicing Fee

          The amount of the Series 1993-2  Monthly  Servicing Fee payable to the
          Servicer during 1997.....................................$6,562,500.00

     (8) Available Series Enhancement Amount

          (a)  The  Available  Cash  Collateral  Amount  for the  Series  1993-2
               Certificateholders  as of the  close  of  business  on  the  last
               Distribution  Date of 1997 after giving  effect to all  deposits,
               withdrawals and  distributions on such  Distribution Date and the
               related Transfer Date..............................$46,666,666.67

          (b)  The  percentage of the Available  Cash  Collateral  Amount to the
               Invested Amount of the Series 1993-2 Certificates as of the close
               of business on the last  Distribution  Date of 1997, after giving
               effect to all deposits,  withdrawals  and  distributions  on such
               Distribution Date and the related Transfer Date............20.00%

          (c)  The amount of the Enhancement  Invested Amount, if any, as of the
               close of business on the last  Distribution  Date of 1997,  after
               giving effect to all deposits,  withdrawals and  distributions on
               such Distribution Date and the related Transfer Date........$0.00

     (9)  Principal Funding Account Amount

          (a)  The amount on deposit in the Principal  Funding Account as of the
               close of business on the last  Distribution  Date of 1997,  after
               giving effect to all deposits,  withdrawals and  distributions on
               such    Distribution    Date    and    the    related    Transfer
               Date..............................................$299,999,999.98

          (b)  Deposits  in  the  Principal  Funding  Account  commenced  on the
               Distribution Date occurring in April,  1997. (The initial funding
               date for the Principal Funding Account may be modified in certain
               circumstances   in  accordance  with  the  terms  of  the  Series
               Supplement.)

     (10) Deficit Controlled Accumulation Amount

          The Deficit Controlled  Accumulation  Amount for the last Distribution
          Date of 1997,  after giving  effect to all deposits,  withdrawals  and
          distributions  on such  Distribution  Date  and the  related  Transfer
          Date.............................................................$0.00

     (11) Reserve Account

          (a)  The amount on deposit in the  Reserve  Account as of the close of
               business  on the last  Distribution  Date of 1997,  after  giving
               effect to all deposits,  withdrawals  and  distributions  on such
               Distribution Date and the related Transfer Date.....$5,000,000.00

          (b)  The Required  Reserve  Account Amount is currently  calculated to
               be..................................................$5,000,000.00

          (c)  Deposits in the Reserve  Account  commenced  on the  Distribution
               Date occurring in January,  1997.  (The initial  funding date for
               the Reserve Account may be modified in certain  circumstances  in
               accordance with the terms of the Series Supplement.)

C)   Invested Amount

     (1)  The Invested  Amount of the Series 1993-2  Certificates on the date of
          issuance (the "Initial Invested Amount")...............$500,000,000.00

     (2)  The  Invested  Amount of the Series  1993-2  Certificates  on the last
          Distribution  Date of  1997,  after  giving  effect  to all  deposits,
          withdrawals     and     distributions     on     such     Distribution
          Date...................................................$500,000,000.00

     (3)  The  Pool  Factor  for the  last  Distribution  Date  of  1997  (which
          represents  the  ratio of the  Invested  Amount of the  Series  1993-2
          Certificates as of such Distribution  Date, after giving effect to any
          adjustment in the Invested  Amount of the 1993-2  Certificates on such
          date,   to  the  Initial   Invested   Amount  of  the  Series   1993-2
          Certificates).  The amount of a Certificateholder's  pro rata share of
          the Invested  Amount can be  determined  by  multiplying  the original
          denomination  of  the  Certificateholder's  Certificate  by  the  Pool
          Factor........................................................1.000000

D)   Receivables Balances

     (1)  The  aggregate  amount of  Principal  Receivables  in the Trust at the
          close of business on the last day of 1997...............$5,801,095,181

     (2)  The aggregate amount of Finance Charge Receivables in the Trust at the
          close of business on the last day of 1997.................$119,933,174

E)   Annualized Percentages

     (1)  The average  Gross Yield for 1997 (sum of monthly  Gross Yield divided
          by 12)..........................................................18.80%

     (2)  The  average Net Loss Rate for 1997 (sum of the monthly Net Loss Rates
          divided by 12)...................................................6.51%

     (3)  The average  Portfolio  Yield for 1997 (the average  Gross Yield minus
          the  average  Net Loss Rate for the  Series  1993-2  Certificates  for
          1997)...........................................................12.29%

     (4)  The average Base Rate for 1997 (sum of the monthly Base Rates  divided
          by 12)...........................................................7.06%

     (5)  The average Net Spread (the average  Portfolio Yield minus the average
          Base    Rate    for    the    Series    1993-2     Certificates    for
          1997.............................................................5.23%

     (6)  The average Monthly Payment Rate (sum of monthly Payment Rates divided
          by 12)...........................................................8.99%

F)   Series 1993-2 Information for the Last Three Distribution Dates in 1997

     1)   Gross Yield

          a)  12/15/97               13.02%
          b)  11/17/97               16.86%
          c)  10/15/97               18.23%

     2)   Net Loss Rate

          a)  12/15/97                4.04%
          b)  11/17/97                5.15%
          c)  10/15/97                5.08%

     3)   Net Spread (Portfolio Yield Minus Base Rate)

          a)  12/15/97                2.41%
          b)  11/17/97                5.03%
          c)  10/15/97                6.35%

          Three Month Average         4.60%

     4)   Monthly Payment Rate

          a)  12/15/97                8.29%
          b)  11/17/97                9.61%
          c)  10/15/97                9.53%


                                      PROVIDIAN  NATIONAL BANK,
                                      Servicer


                                      By:    /s/ Daniel Sanford
                                             _____________________________
                                      Name:  Daniel Sanford
                                      Title: Vice President and Controller